Where's the note?
October 12, 2010 3:29 PM Subscribe
Where's the note? "Whether you are facing foreclosure, have an underwater mortgage, or are just a concerned homeowner, it’s important that you contact your bank and demand to see the original note on your mortgage. It only takes a few minutes using our free online tool."
[previously]
[via]
This post was deleted for the following reason: Maybe just add this to this post from three days ago. -- cortex
Not that note! The long form!
posted by mullacc at 3:32 PM on October 12, 2010 [1 favorite]
posted by mullacc at 3:32 PM on October 12, 2010 [1 favorite]
That is a weak-ass "[previously]" link. I mean seriously, we could have thought to search the site for related posts if we were so motivated. Could you maybe be troubled to point to even one particular recent related post, mmm? Just one?
posted by rkent at 3:39 PM on October 12, 2010
posted by rkent at 3:39 PM on October 12, 2010
sure:
http://www.metafilter.com/68616/The-You-Generation
http://www.metafilter.com/87071/Homeowners-You-Have-Nothing-to-Lose-But-Your-Mortgages
http://www.metafilter.com/93356/Just-walk-away-and-there-will-be-an-end-to-the-horror-I-await-your-answer
http://www.metafilter.com/91802/Walk-away
posted by Substrata at 3:44 PM on October 12, 2010
http://www.metafilter.com/68616/The-You-Generation
http://www.metafilter.com/87071/Homeowners-You-Have-Nothing-to-Lose-But-Your-Mortgages
http://www.metafilter.com/93356/Just-walk-away-and-there-will-be-an-end-to-the-horror-I-await-your-answer
http://www.metafilter.com/91802/Walk-away
posted by Substrata at 3:44 PM on October 12, 2010
So who is responsible for the website. I see logos at the bottom but none were clickable. Might they have ulterior motives for this? (The SEIU privacy policy link seems to be for their general website and not for this form specifically.)
Also, why should I care to see my note? What practical value does it have for me? No really, I'm curious. Assuming that I am in no danger of being foreclosed on, that my house is not underwater, and that generally speaking I've had no issues with my mortgage or lender, why should I insist on seeing the note? (Is there a value to the borrower, if they are in financial distress?)
posted by oddman at 3:49 PM on October 12, 2010
Also, why should I care to see my note? What practical value does it have for me? No really, I'm curious. Assuming that I am in no danger of being foreclosed on, that my house is not underwater, and that generally speaking I've had no issues with my mortgage or lender, why should I insist on seeing the note? (Is there a value to the borrower, if they are in financial distress?)
posted by oddman at 3:49 PM on October 12, 2010
Aside from all the other flaws, even as a non-lawyer I don't think this is the right way to go about this. Worthy cause, bad bad strategy.
posted by anigbrowl at 3:49 PM on October 12, 2010
posted by anigbrowl at 3:49 PM on October 12, 2010
In all seriousness, the way to really do this is to go down to the county property recorder, pay the $15 or $20 to see the record for your property, and contact the party named on the lien to see if they actually hold the note and if not, who does. Chances are, if you've taken out a mortgage lately it'll say MERS, and good luck going down that rabbit hole if you're just seeking the note out of curiosity rather than to make an actual sale.
posted by rkent at 3:49 PM on October 12, 2010
posted by rkent at 3:49 PM on October 12, 2010
In Arvest Bank's case, 99 times out of a hundred, the answer is the obvious: with the bank. They don't sell many of their residential mortgages. (I single them out because I know about them and they made it into the tag list)
posted by wierdo at 3:54 PM on October 12, 2010
posted by wierdo at 3:54 PM on October 12, 2010
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posted by wuwei at 3:31 PM on October 12, 2010